An analysis of fired or laid-off workers, their age, and the reasons for their departure produced the
Question:
An analysis of fired or laid-off workers, their age, and the reasons for their departure produced the following table of joint probabilities.
Age Category 65 and Reason for job loss 20–24 25–54 55–64 older Plant or company closed or moved .015 .320 .089 .029 Insufficient work .014 .180 .034 .011 Position or shift abolished .006 .214 .071 .016
(Source: Statistical Abstract of the United States, 2009, Table 593.)
a. What is the probability that a 25- to 54-year-old employee was laid off or fired because of insufficient work?
b. What proportion of laid-off or fired workers is age 65 and older?
c. What is the probability that a laid-off or fired worker because the plant or company closed is 65 or older?
Step by Step Answer:
Statistics For Management And Economics
ISBN: 9781133420774
9th Edition
Authors: Gerald Keller, Kenneth C Louden